Interview With an Entrepreneur-RedCarpetUp
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The document describes an interview with Kartik Venkataraman, founder of Redcarpetup, a platform providing business growth solutions for restaurants. Redcarpetup differentiates itself by automatically applying discounts and rewards without requiring complicated steps from users, addressing challenges in the food sector such as changing customer tastes and internet connectivity issues. The interview also touches on the potential for growth both domestically in India and eventually expanding globally.
Interview With an Entrepreneur-RedCarpetUp
- 1. Jagan Institute of Management Studies (JIMS) |www.JimsIndia.org JIMS, Rohini, Sector 5 student Mr Shubham Jain interviewed Mr. Kartik Venkataraman , founder of RedCarpetUp, Business Growth Solutions for Restaurant on his “Success Story” during his Internship. Interview with an Entrepreneur Shubham Jain PGDM 2014-16
- 2. Entrepreneur Mr. Kartik Founder - Redcarpetup Mr. Kartik Venkataraman , IIT-Alumni, founded Redcarpetup. Redcarpetup is a platform which provides the business growth solutions for restaurants , cafes and hotels. Redcarpetup has tieups with many restaurant chains and offer discounts and coupons to customers if they pay bills through their redcarpetup application. RedCarpet is the only app that lets you discover, earn and actually USE your rewards. Every other app lets you find untrusted deals and coupons - but when you actually try to use them in retail outlets, the cashier or waiter has no idea what to do ! Now, with the RedCarpetUp app, you don't need to ask your waiter or cashier for any details. You dont have to show QR codes or fill forms or take any complicated steps to shop in your city. All deals get applied automatically when you pay through the app ! Stop being bothered by unknown deals or discounts or outlets not knowing about a particular offer. Shop, Pay and Gift !
- 3. 3 Jagan Institute of Management Studies (JIMS) www.JimsIndia.org After making lots of research , I found that delhites are very foody and around 47% of people in Delhi and NCR have their one time meal in restaurants and street foods . Though , the sector is growing at a fast pace , this makes me to take this step to start in this field. Q2. Who are the major competitors of redcarpetup , and how to tackle from them ? Q1. What makes you to step in this field ? We are very different from Zomato , Food Panda , Tripadviser , cuisinelinks and many more. Though , they are related to the restaurant growth business solutions but they provide the platform to get information about the restaurant and cafes but we are here to get connect the customer with the restaurants through membership cards and payment gateway which provides discounts on every visit.
- 4. 4 Jagan Institute of Management Studies (JIMS) www.JimsIndia.org Q3. What are the challenges that this sector is currently facing ? Change in taste and preference of customer is the major challenge this sector is facing. New day comes with new taste of customer. As we target youth and teenagers, as they are most connected with the restaurants and cafés. It becomes very difficult to track the customer. Q4. What will drive growth in the sector ? Impeccable internet connectivity with help to have growth in this sector. Most of the customers doesn’t able to download the application only because of the lack of internet connectivity and costlier data packs.Digital India programme lead by Mr. Narendra Modi will definitely drive the sector in a foremost manner
- 5. 5 Jagan Institute of Management Studies (JIMS) www.JimsIndia.org Q5. How is your company placed in the market in terms of services and products ? Redcarpetup provides most of its intangible products to its sellers(reastuarants) and final customers. Services like online payment of bills through an application , online table reservation , rooms reservation . Products like membership cards . We are working in increasing the services as well as products in the market. Q6. How do you see the opportunities in the rural areas ? Rural areas are lying behind only because of lack of literacy , education and technology. Even they didn’t heard about this kind of services which are untouched. Having a meal in a restaurant is far away from their thinking which is not possible for them to grab with this sector.
- 6. 6 Jagan Institute of Management Studies (JIMS) www.JimsIndia.org Q8. Can you imagine and describe a picture of redcarpetup when you move globally ? It’s a big deal to capture the Indian market and gain success. Because India is very wide and large market with huge diversification. Yes , fruitful results in India will definitely leads us globally . We will move towards the neighbour countries like China and gradually touch the Asian countries along with the Gulf countries.
- 7. Jagan Institute of Management Studies
- 8. 8 Jagan Institute of Management Studies (JIMS) www.JimsIndia.org About JIMS JIMS Rohini is one of the leading MBA institutes of Delhi. We impart professional education both at post graduate and undergraduate levels in the fields of management and information technology. Our PGDM program is approved by the AICTE and is accredited from NBA for excellence in quality education. PGDM program has also been granted equivalence to MBA degree by the AIU. We offer specialized PGDM programs in International Business and Retail as well. JIMS, Rohini, Sector 5 also offers technical programs viz BBA, BCA & MCA affiliated from GGSIPU. Established in 1993, JIMS completed its 20 years of Excellence in 2013. We offer excellent academic structure, industry interaction and job opportunities.
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